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| Warner West, Huntington Beach, CA |
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| Gleb Lvovich |
The HFF team worked with the buyer, Merlone Geier Partners.
The seller was a private family trust that has owned the asset for more than 45
years.
Warner West is situated on seven acres at 6885-6991 Warner Avenue
at the intersection of Warner Avenue and Goldenwest Street, one of the top
intersections in Huntington Beach with more than 52,000 cars per day.
Home to Big Lots, in-line shops and a restaurant
pad building, the property was 78 percent occupied at the time of sale with
short-term anchor and shop leases allowing for near term redevelopment of a
well-located but aging shopping center.
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| Daniel Tyner |
“The sale of Warner West represents the continued interest in
coastal anchored shopping centers in primary markets, especially those with
upside and cash flow growth,” Lvovich said.
“Warner West is an example of the ideal repositioning opportunity
that investors want today due to the below market in place rents with near term
lease roll over that presents an almost immediate repositioning opportunity for
the buyer,” Tyner added.
For more information, please contact:
KIMBERLY STEELE
HFF Digital
Content/Public Relations Specialist
(713) 852-3420
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